Mailung Khola Jal Vidhyut Company Limited Trading Resumes: NEPSE Ends Suspension

Nepal Stock Exchange Limited (NEPSE) has lifted the suspension on the trading of Mailung Khola Jal Vidhyut Company Limited (MKJC) securities. The company is set to resume trading, marking the conclusion of a brief hiatus prompted by the delayed submission of information regarding the dividend declaration for the fiscal year 2079/80.

NEPSE's official statement revealed MKJC's failure to provide details about the dividend declaration in time, a requirement according to Securities Listing Regulations, 2075. Companies are mandated to furnish notices, information, and decisions influencing securities prices to NEPSE on or before the day of business commencement.

The board of directors of MKJC held a meeting on the 7th Chaitra and the decision regarding the dividend declaration of 2079/80 was made. However, the information reached NEPSE on a subsequent day, 8th Chaitra at 11:17 am, leading to the immediate suspension of MKJC securities trading. NEPSE sought clarification from MKJC within three working days.

MKJC responded to NEPSE's query, explaining that the delay was attributed to a server mail problem encountered on the day of submission, 7th Chaitra. The company claimed that the notice was dispatched to NEPSE on the same day, but due to the server issue, it reached NEPSE on the subsequent day.

Despite MKJC's explanation, NEPSE, in its decision dated 2080/12/12, issued a warning to MKJC and instructed the release of the suspended securities transactions. The warning emphasizes MKJC's obligation to fully comply with the Securities Listing Regulations, 2075, and the terms.